Q5:Answer this question based on the following 3 statements

1. Owners of partnerships pay partner income tax while owners of corporations pay both personal income tax and corporate tax

2. Owners of sole ownership can sell their business without negotiating with other owners so the sole ownership is the easiest form to transfer the ownership

3. All partners in the limited partnership have limited liabilities

A) All incorects

B) 1&3 are correct

C) Only 1 is correct

D) Only 2 is correct

E) Only 3 is correct